Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedules............................................................................................ 4

Schedule 1--Avoidance of certain product intervention orders               5

Corporations Act 2001                                                                                               5

Schedule 2--Recognising experience in the financial advice industry 10

Part 1--Transitional arrangements for experienced providers                10

Corporations Act 2001                                                                                             10

Part 2--Addressing known issues for new entrants                                    15

Corporations Act 2001                                                                                             15

Part 3--Addressing known issues for qualified tax relevant providers   18

Corporations Act 2001                                                                                             18

Part 4--Transitional provisions                                                                              19

Corporations Act 2001                                                                                             19

Part 5--Contingent amendments for Schedule 2 to the Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023                                          21

Division 1--Main amendment                                                                                21

Corporations Act 2001                                                                                             21

Division 2--Contingent amendment if the Law Improvement measure commences second          21

Corporations Act 2001                                                                                             21

Division 3--Contingent amendment for reference to notice provisions         22

Corporations Act 2001                                                                                             22

Part 6--Contingent amendments for Part 1 of Schedule 4 to the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023  23

Division 1--Main amendment                                                                                23

Corporations Act 2001                                                                                             23

Division 2--Contingent amendment if the Modernising Business measure commences second     23

Corporations Act 2001                                                                                             23

Schedule 3--Competition in the clearing and settlement of cash equities               24

Part 1--CS services rules                                                                                          24

Australian Securities and Investments Commission Act 2001                          24

Corporations Act 2001                                                                                             24

Part 2--CS services arbitration                                                                              36

Division 1--ASIC-related amendments                                                                36

Competition and Consumer Act 2010                                                                   36

Division 2--Main amendments                                                                              36

Competition and Consumer Act 2010                                                                   36

Part 3--Contingent amendments                                                                          61

Competition and Consumer Act 2010                                                                   61

Schedule 4--Improving the flexibility of the First Home Super Saver Scheme   62

Income Tax Assessment Act 1997                                                                            62

Taxation Administration Act 1953                                                                         65

 

 

 

Treasury Laws Amendment (2023 Measures No. 3) Act 2023

No. 75, 2023

 

An Act to amend the law relating to financial services, corporations, competition and taxation, and for related purposes

[Assented to 20 September 2023]

The Parliament of Australia enacts:

[Minister's second reading speech made in--

House of Representatives on 14 June 2023

Senate on 2 August 2023]